Systems, Methods, and Media for Controlling the Exposure of Orders to Trading Platforms

Abstract

Systems, methods, and media for controlling the exposure of orders to trading platforms are provided. In accordance with some embodiments, systems for controlling the exposure of orders to trading platforms are provided, the systems comprising: at least one hardware processor that: receives information for at least one order to trade a security; and for each of a plurality of trading platforms, determines how the at least one order is to be exposed to trading platform based on at least one of a default exposure setting for all orders for the trading platform, at least one filter for the trading platform, and an exposure status setting for the trading platform and the at least one order, and provides information for the at least one order to the trading platform.

1 . A system for controlling the exposure of orders to trading platforms, comprising:
 at least one hardware processor that:
 receives information for at least one order to trade a security; and 
 for each of a plurality of trading platforms, determines how the at least one order is to be exposed to trading platform based on at least one of a default exposure setting for all orders for the trading platform, at least one filter for the trading platform, and an exposure status setting for the trading platform and the at least one order, and provides information for the at least one order to the trading platform. 
   
     
     
         2 . The system of  claim 1 , wherein the information for the at least on order to trade a security is received from an order management system. 
     
     
         3 . The system of  claim 1 , wherein the at least one filter for the trading platform includes an inclusion filter. 
     
     
         4 . The system of  claim 1 , wherein the at least one filter for the trading platform includes an exclusion filter. 
     
     
         5 . The system of  claim 1 , further comprising presenting a user interface that simultaneously indicates for the at least one order the exposure status setting for each of the plurality of trading platforms. 
     
     
         6 . The system of  claim 6 , wherein the user interface also simultaneously indicates an amount exposed to each of the plurality of trading platforms for the at least one order. 
     
     
         7 . The system of  claim 1 , wherein the plurality of trading platforms includes at least one crossing platform. 
     
     
         8 . A method for controlling the exposure of orders to trading platforms, comprising:
 receiving information for at least one order to trade a security; and   for each of a plurality of trading platforms, determining how the at least one order is to be exposed to trading platform based on at least one of a default exposure setting for all orders for the trading platform, at least one filter for the trading platform, and an exposure status setting for the trading platform and the at least one order, and providing information for the at least one order to the trading platform.   
     
     
         9 . The method of  claim 8 , wherein the information for the at least on order to trade a security is received from an order management system. 
     
     
         10 . The method of  claim 8 , wherein the at least one filter for the trading platform includes an inclusion filter. 
     
     
         11 . The method of  claim 8 , wherein the at least one filter for the trading platform includes an exclusion filter. 
     
     
         12 . The method of  claim 8 , further comprising presenting a user interface that simultaneously indicates for the at least one order the exposure status setting for each of the plurality of trading platforms. 
     
     
         13 . The method of  claim 12 , wherein the user interface also simultaneously indicates an amount exposed to each of the plurality of trading platforms for the at least one order. 
     
     
         14 . The method of  claim 8 , wherein the plurality of trading platforms includes at least one crossing platform. 
     
     
         15 . A computer-readable medium containing computer-executable instructions that, when executed by a processor, cause the processor to perform a method for controlling the exposure of orders to trading platforms, the method comprising:
 receiving information for at least one order to trade a security; and   for each of a plurality of trading platforms, determining how the at least one order is to be exposed to trading platform based on at least one of a default exposure setting for all orders for the trading platform, at least one filter for the trading platform, and an exposure status setting for the trading platform and the at least one order, and providing information for the at least one order to the trading platform.   
     
     
         16 . The medium of  claim 15 , wherein the information for the at least on order to trade a security is received from an order management system. 
     
     
         17 . The medium of  claim 15 , wherein the at least one filter for the trading platform includes an inclusion filter. 
     
     
         18 . The medium of  claim 15 , wherein the at least one filter for the trading platform includes an exclusion filter. 
     
     
         19 . The medium of  claim 15 , wherein the method further comprises presenting a user interface that simultaneously indicates for the at least one order the exposure status setting for each of the plurality of trading platforms. 
     
     
         20 . The medium of  claim 19 , wherein the user interface also simultaneously indicates an amount exposed to each of the plurality of trading platforms for the at least one order. 
     
     
         21 . The medium of  claim 15 , wherein the plurality of trading platforms includes at least one crossing platform.